Thursday 3 November 2011

Business : Dubai unit unaffected

Amid mounting investor concern across the globe about the fallout from the collapse of MF Global Holdings Ltd, the Dubai-based MF Global Middle East DMCC, said on Wednesday that its operations remained unaffected despite the US brokerage firm filing for bankruptcy protection.

“MF Global Middle East DMCC (MFGME) is a broker and clearing member of Dubai Gold and Commodities Exchange (DGCX) and is 100 per cent owned by MF Global Sify Securities India P. Ltd,” Vineet Bhatnagar, managing director of MFGME.

MF Global Sify Securities India is a 30:70 joint venture between India’s Sify Technologies Ltd and the embattled US brokerage firm MF Global.
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